For the regions that have a standard box business model such as North America and Europe, yes, Wings of Liberty will be required in order to play Heart of the Swarm. For other regions that have alternative access models, we’ll provide details at a later date.

How much will Heart of the Swarm cost?

We typically don’t provide details about pricing until the game is closer to release. We do view Heart of the Swarm as an expansion set, so for the regions that have a standard box business model such as North America and Europe, we will price accordingly. For other regions that have alternative business models, we’ll provide details at a later date.

The price will likely drop by 10 to 20 bucks for the standard edition.

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I seriously doubt that. Perhaps a tie-in with both starcraft 2 WoL and this expansion for little more than the current standard price is to be expected*, but with all the patches, balance tweaks and tournaments blizzard is holding, I really don't believe they're going to lower their standard price like that.

*not certain on this, though. This may only appear once the 2nd expansion hits the stores...and that's at the very least another year away.

Most of the WoW expansions dropped form 60 to 40-50 range (depends where you buy it from, like amazon and some Targets stores) after the following expansion came out. That is normal for us. For your part of the world will likely be different.